WE’VE ALL HEARD THE LINE, “A man walks into a bar …” and waited for the pun at the end of the sentence. However, when a tax depreciation specialist walks into a bar it’s no laughing matter as there is much more to uncover.
Many pub, hotel and tavern operators are losing thousands annually by failing to have a tax depreciation schedule prepared for their property. [Read more…]
AS YOU ARE probably aware, property depreciation is mostly claimed by the owner of an income-producing property. And it’s for this reason, that many commercial tenants often miss out on the hidden cash available to them through depreciation.
Commercial tenants can claim depreciation deductions based on any fit-out or plant and equipment assets that they add to the property. [Read more…]
THE AUSTRALIAN Taxation Office (ATO) has released a new tax ruling, which is effective from the 1st of July 2014.
Replacing Tax Ruling 2013/4, Tax Ruling 2014/4 explains the methods to be used when determining the effective lives of depreciating assets.
The tax ruling in effect at the time an asset is acquired determines the effective life of that asset. For this reason, any changes the ATO have made to effective lives of assets in Tax Ruling 2014/4 will only affect assets purchased and installed for use after the 1st of July 2014. [Read more…]
THE AUSTRALIAN Taxation Office (ATO) allows investors to choose between two alternative methods of claiming depreciation on plant and equipment assets. The diminishing value and the prime cost methods of depreciation.
When you make a depreciation claim, you can only choose one of these methods. It is important for you to understand how your choice will affect your investment returns. [Read more…]
THE END OF FINANCIAL YEAR may have come and gone but there is still time for commercial property owners to arrange a tax depreciation schedule. You could claim thousands of dollars in depreciation deductions.
Australian Taxation Office (ATO) legislation permits the owner of any income-producing property to claim depreciation in two ways:
COMMERCIAL BUILDING OWNERS remain unaware of the taxation benefits their property can generate. One of the most beneficial, yet often missed, deductions is building depreciation. [Read more…]
IN THE FIRST Part of this series you discovered the first two tips to help you maximise the depreciation deductions that you can claim on your Commercial property.
Tax time is nearly here, take a look at the next four tips to make sure that you are claiming what you are entitled to. And not throwing money away. [Read more…]
ARE YOU maximising your Commercial property depreciation deductions this financial year?
Tax time is approaching quickly and you are probably preparing to visit your Accountant to complete your annual income tax assessment. [Read more…]
THE AUSTRALIAN Taxation Office (ATO) allows you, as a Commercial property owner, to choose between two methods of claiming depreciation on the fixtures and fittings within your investment properties.
These are the Diminishing Value and the Prime Cost methods of depreciation. [Read more…]
GREAT NEWS: The Australian Taxation Office (ATO) has made further changes to the rulings surrounding immediate write-off and pooling of small business assets.
If you’re a small business owner (and/or Commercial property investor) … read on to find out how these changes affect you. [Read more…]
DID YOU KNOW that you can claim quite significant depreciation deductions for an Industrial property? Because, legislation set down by the Australian Taxation Office (ATO) allows the owners of any income producing property to claim depreciation. [Read more…]
